Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required Information Required Information [The following information applies to the questions displayed below.] [The following information applies to the questions displayed below.] Clopack Company manufactures
Required Information Required Information [The following information applies to the questions displayed below.] [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing All raw materials are introduced at the start of work in the Mixing Department. The company uses the Clopack Company manufactures one product that goes through one processing department called Mixing. weighted-average method to account for units and costs. Its Work in Process T-account for the Mixing All raw materials are introduced at the start of work in the Mixing Department. The company uses the Department for June follows (all forthcoming questions pertain to June): weighted-average method to account for units and costs. Its Work In Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): Work in Process-Mixing Department June 1-balance $ 36, 000 Completed and transferred to finished goods Work in Process-Mixing Department Materials 122, 440 June 1-balance $ 36, 000 Completed and transferred to finished goods Direct labour 81, 500 Materials 122, 440 Overhead 99, 000 Direct labour 81, 500 June 30-balance ? Overhead 99, 000 June 30-balance The June 1 work in process inventory consisted of 5,200 kilograms with $19,130 in materials cost and $16,870 in conversion cost. The June 1 work in process inventory was 100% complete with respect to The June 1 work in process inventory consisted of 5,200 kilograms with $19,130 in materials cost and materials and 60% complete with respect to conversion. During June, 37,700 kilograms were started into $16,870 in conversion cost. The June 1 work in process inventory was 100% complete with respect to production. The June 30 work in process inventory consisted of 8,400 kilograms that were 100% complete materials and 60% complete with respect to conversion. During June, 37,700 kilograms were started into with respect to materials and 50% complete with respect to conversion. production. The June 30 work in process inventory consisted of 8,400 kilograms that were 100% complete with respect to materials and 50% complete with respect to conversion. 9. What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) 10. What is the cost of ending work in process inventory for materials? (Do not round Intermediate calculations.) Cost per equivalent unit for conversion Cost of ending work-in-process inventory for materials
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started